Rumors are swirling that Treasury Secretary Janet Yellen could be leaving her position after the Midterms in November.
Will it be enough to make a dent in the economic problems the country is facing?
The truth is, Janet Yellen could be the first of many departures as the Biden administration tries to regroup its cabinet.
Yellen’s departure is likely a ploy to save face
Americans are deeply concerned about their futures, especially regarding their current economic standing.
In an attempt to save face, the White House is quietly preparing for Janet Yellen to depart, but it could be just the start of other exits to come.
The Senate will need to approve whoever takes her place, which could present a real challenge for Democrats.
But Biden feels that Yellen leaving her post could be an answer to recent public outcry over the state of the economy regarding his lack of handling the issue in any meaningful way.
While it’s not written in stone, there are some rumors that Yellen could be leaving by November, although she does have some say in whether or not this is the case.
The outcome of the Midterms could also play a role, while a Treasury spokesperson claims that Yellen isn’t planning to go anywhere.
Some officials say they’re also considering the departure of Brian Deese, the director of the National Economic Council by next year.
However, White House Senior Advisor Anita Dunn claims that “neither Secretary Yellen or Brian Deese” is part of their plans to prepare for post-Midterm changes.
Meanwhile, some officials at the White House are currently searching for new talent to serve in a variety of Cabinet and senior staff positions.
Despite the Washington, D.C. rumor mill firing on all cylinders, who stays and who comes in as “new blood” remains to be seen.
The state of the global economy is at stake
According to a recent Axios article, many Presidents, central bankers, and finance ministers across the globe are extremely worried about the state of the world economy.
Some are even saying it has an ominous feeling that’s quite similar to the crisis that began in August of 2007.
Soaring inflation, stagnant economic growth, and a weakening on the world stage have many Republicans poised to make strong arguments for more economic freedom in the United States.
Additionally, Biden’s approval ratings are slumping down to just 36%, while 57% of respondents to the ABC News/Washington Post poll say they disapprove of the job he’s doing.
Anyone who leaves Biden’s economic team now only shows that his administration admits they’ve failed to handle the current economic crisis correctly.
The administration recently sent Yellen to Detroit to make the case for Biden’s ability to handle a difficult post-COVID economy.
Part of their argument is that America is currently seeing a low unemployment rate of 3.7% and an increase in manufacturing.
But talk to most everyday Americans, and you’ll hear a much different story.
Changing your staff midway isn’t going to be enough to slay inflation, strengthen the U.S. dollar, and give Americans the confidence they need to feel secure in an uncertain world.
US Political Daily will keep you up-to-date on any developments to this ongoing story.